Small business lending may get a boost soon if reports are correct that Goldman Sachs (GS) is looking to team up with Amazon.com (AMZN). According to a report in the Financial Times, a partnership is reported to be under discussion between the two companies under which Amazon would provide Goldman Sachs access to their online small business lending platform. This could be a win not only for Goldman Sachs, who could offer small business loans over the platform, but it would open a new and easy to access source of funds to small businesses in need of financial products.
In yet another indication of the growing power of online over bricks and mortar, it was announced today that Amazon is buying buying Whole Foods in a deal worth about $13.7 billion. Only a month ago, problems started becoming evident that resulted in a board shake-up and the implementation of cost cutting measures due to falling sales.
What to expect next? Maybe ordering your groceries through Alexa and having them delivered by drone? Only time will tell, but the move provides further evidence of the tremendous shift from traditional sales channels to online.